FactorAuction.com is a receivables exchange where factoring companies compete to purchase your invoices for immediate upfront cash..
FactorAuction.com is 100% free to use. Our goal is to get your business the best cost of money for your invoice financing needs.
FactorAuction.com provides the best pricing in the industry for invoice financing services. Companies compete to provide your business with the best rate and highest advance for your unpaid invoices.
Invoice factoring is when accounts receivable are purchased at a discount for immediate up-front cash. The average advance is between 85-95% of the total value of invoices. The remaining 5-15% is paid, minus any fees when the business pays the outstanding invoice.
Invoice discounting is very similar to invoice factoring except your company remains in charge of collecting the debt from the debtors.
The entire auction and advance process takes approximately 5 days. A typical auction takes 24 hours and the remaining 4 days is to submit all documentation to the winning bidder.
There are two fundamental types of invoice financing; invoice factoring and invoice discounting. With invoice discounting your customers do NOT know that you are factoring your invoices. With invoice factoring your customers are notified that your business is using invoice factoring and to remit payment directly to the factor.
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